Weekly review of three pairs

EUR/USD

Monthly chart: here is a rather active bearish attack which promises that price will move at least to the middle Bollinger band (1.3312). If this area is confirmed, a Southern Over&Under will be formed (blue arrow, start from1.3950).

Weekly chart: a local support is based at 1.3515 ( the bottom Bollinger band), where O&U will be formed as well.

Day chart: Inside Bar was recorded at the closure of the week. Thus, we also see a strong potential for decline to 1.3515.

Conclusion: so, we are waiting when area 1.3515 will be touched, and return to 1.3950, from where a full scaled decline of Euro may start from in the middle run.

GBP/USD

Monthly chart: the pair is a one step from attack of resistance 1.7150. Upon that a necessity of a roll back to support 1.6012 ( the middle Bollinger band).may be shown.

Weekly chart: support 1.6641 still has the structure of uptrend. Below a danger of Over&Under will be shown as decline to 1.6323 progresses. Target is 1.6012.

Day chart: flat channel 1.6751-1.6945. With current ADX level, it can stay as it is. Breakthrough below would lead to bearish behavior.

Conclusion: flat 1.6751-1.6945 is the main plan. Another option is to break 1.6751 and go down to 1.6641. On this level, both options with upward movement and decline to 1.6323 are possible.

AUD/USD

Monthly chart: bears have rolled back to the area of 50% (April pin) and now it is likely for a downward wave to 0.8346 to begin.

Weekly chart: once oscillator received convergence, we witness a downward correction. In front of it, there are two supportive levels - the middle Bollinger band (0.9084) and 0.8676 (the bottom band). As long as the price keeps these levels, bulls will have chances for reversal. Moving below activates scenario of decline to 0.8346.

Day chart: support 0.92 can throw the pair away to the upprt band (0.94). Movement below supportive line will also attract bears.

Conclusion: a main plan is to move below 0.92, decline to 0.9084 and possibly to 0.8676. Another option is the flat 0.92-0.94.